Stieven Capital Advisors L.P. Takes Position in Alerus Financial Co. (NASDAQ:ALRS)

Stieven Capital Advisors L.P. purchased a new stake in shares of Alerus Financial Co. (NASDAQ:ALRS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 260,748 shares of the company’s stock, valued at approximately $5,966,000. Stieven Capital Advisors L.P. owned about 1.03% of Alerus Financial as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. grew its holdings in shares of Alerus Financial by 380.7% during the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after buying an additional 1,203 shares during the last quarter. SG Americas Securities LLC bought a new position in Alerus Financial in the third quarter worth approximately $142,000. Bailard Inc. bought a new position in Alerus Financial in the second quarter worth approximately $265,000. Inspire Investing LLC bought a new stake in shares of Alerus Financial during the 3rd quarter valued at $417,000. Finally, Acadian Asset Management LLC raised its position in shares of Alerus Financial by 4,147.8% during the 1st quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock valued at $573,000 after purchasing an additional 25,675 shares during the period. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Performance

Shares of NASDAQ:ALRS opened at $22.09 on Friday. Alerus Financial Co. has a 52 week low of $18.05 and a 52 week high of $25.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $22.39 and a two-hundred day simple moving average of $21.03. The stock has a market capitalization of $559.76 million, a P/E ratio of 138.07 and a beta of 0.68.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. The firm had revenue of $80.58 million for the quarter, compared to analysts’ expectations of $52.30 million. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, analysts expect that Alerus Financial Co. will post 0.97 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.62%. Alerus Financial’s payout ratio is 500.03%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson raised their target price on shares of Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods raised their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Tuesday, September 17th. Finally, Piper Sandler cut their target price on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.20.

Alerus Financial Company Profile

Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers. The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management.